Offshore structures, such as those used by the petroleum industry, are sometimes moored to the seafloor using pile anchors. Existing pile anchors may generally be described as a single tubular element, typically circular in cross section, with a closed top and an open bottom. The ability of a pile anchor to moor an object is typically referred to as an anchor's “holding capacity.” In general, the holding capacity of a pile anchor increases with the size of the anchor. However, typically as the size of the anchor increases, so does the anchor's material, fabrication and installation costs. Additional background can be found in U.S. Pat. No. 5,915,326 to Karal, GB 2,368,329 A to Baross et al., U.S. Pat. No. 5,704,732 to Horton, and JP 58 149,866 to Koji appearing in Patent Abstracts of Japan vol. 007, no. 271 (3 Dec. 1983). What is needed is a pile anchor installation system that reduces the high costs of material, fabrication and installation without substantially reducing the anchor's holding capacity. The current invention satisfies this need.